French 10-year bond yield falls 18.4 bps to 4.768%

The move is broad rather than France-specific: Italian, Spanish and Greek yields fell in the same session, pointing to a region-wide repricing of duration rather than a narrowing of French risk premia. That distinction matters for anyone reading the French curve as a sovereign credit signal, since the two-year lagging the long end suggests the driver sits further out the curve. Whether the 10-year holds above its October 15 low is the open question; a break would mark the first clear easing since that level was set.